WEX (NYSE:WEX) Price Target Cut to $185.00 by Analysts at Truist Financial

WEX (NYSE:WEX – Get Rating) had its target price reduced by Truist Financial from $215.00 to $185.00 in a research note issued to investors on Thursday morning, The Fly reports.

Several other research analysts also recently commented on WEX. Citigroup lifted their target price on WEX from $190.00 to $230.00 and gave the stock a buy rating in a report on Monday, February 13th. Robert W. Baird lifted their price objective on WEX from $200.00 to $222.00 and gave the stock an outperform rating in a research report on Friday, February 10th. StockNews.com initiated coverage on WEX in a research report on Thursday. They issued a hold rating for the company. TheStreet raised WEX from a c rating to a b- rating in a research report on Thursday, February 9th. Finally, Wells Fargo & Company lifted their price objective on WEX from $193.00 to $230.00 in a research report on Friday, February 10th. Four research analysts have rated the stock with a hold rating and seven have issued a buy rating to the company. Based on data from MarketBeat.com, WEX has an average rating of Moderate Buy and an average price target of $206.36.

WEX Stock Down 2.8 %

Shares of WEX opened at $169.25 on Thursday. The company has a market capitalization of $7.30 billion, a PE ratio of 37.69, a PEG ratio of 1.88 and a beta of 1.59. WEX has a 12 month low of $125.00 and a 12 month high of $204.05. The stock’s 50-day moving average price is $185.27 and its two-hundred day moving average price is $164.68. The company has a current ratio of 1.08, a quick ratio of 1.08 and a debt-to-equity ratio of 1.53.

Insiders Place Their Bets

In other WEX news, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $199.19, for a total transaction of $199,190.00. Following the completion of the sale, the chief operating officer now directly owns 7,537 shares of the company’s stock, valued at approximately $1,501,295.03. The sale was disclosed in a filing with the Securities & Exchange Commission, which is accessible through the SEC website. In other news, insider Melanie J. Tinto sold 2,464 shares of the business’s stock in a transaction that occurred on Tuesday, February 14th. The stock was sold at an average price of $197.43, for a total value of $486,467.52. Following the transaction, the insider now owns 3,889 shares in the company, valued at approximately $767,805.27. The sale was disclosed in a document filed with the Securities & Exchange Commission, which is available through this link. Also, COO Robert Joseph Deshaies sold 1,000 shares of the business’s stock in a transaction that occurred on Wednesday, February 15th. The stock was sold at an average price of $199.19, for a total value of $199,190.00. Following the completion of the transaction, the chief operating officer now owns 7,537 shares in the company, valued at approximately $1,501,295.03. The disclosure for this sale can be found here. In the last ninety days, insiders sold 26,634 shares of company stock valued at $5,126,036. Corporate insiders own 1.00% of the company’s stock.

Hedge Funds Weigh In On WEX

Hedge funds and other institutional investors have recently modified their holdings of the business. FinTrust Capital Advisors LLC purchased a new position in shares of WEX in the 4th quarter worth approximately $25,000. National Bank of Canada FI purchased a new position in WEX in the fourth quarter valued at approximately $26,000. Lindbrook Capital LLC lifted its stake in WEX by 85.6% in the fourth quarter. Lindbrook Capital LLC now owns 167 shares of the business services provider’s stock valued at $27,000 after purchasing an additional 77 shares during the last quarter. CWM LLC lifted its stake in WEX by 99.2% in the third quarter. CWM LLC now owns 265 shares of the business services provider’s stock valued at $34,000 after purchasing an additional 132 shares during the last quarter. Finally, Fred Alger Management LLC purchased a new position in WEX in the third quarter valued at approximately $34,000. Hedge funds and other institutional investors own 98.65% of the company’s stock.

WEX Company Profile

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WEX Inc provides financial technology services in the United States and internationally. It operates through three segments: Fleet Solutions, Travel and Corporate Solutions, and Health and Employee Benefit Solutions. The Fleet Solutions segment offers fleet vehicle payment processing services. Its services include customer, account activation, and account retention services; authorization and billing inquiries, and account maintenance services; credit and collections services; merchant services; analytics solutions with access to web-based data analytics platform that offers insights to fleet managers; and ancillary services and tools to fleets to manage expenses and capital requirements.